When investing in Government Bonds such as G-Secs, T-Bills, and State Development Loans (SDLs) through FYERS, there are no brokerage charges for primary market investments. However, if you sell them before maturity on the exchange, standard FYERS brokerage and DP charges apply. Cut-off timings are also important to ensure your bids are accepted in RBI auctions.
Charges Overview
For the detailed breakdown, see the FYERS Charges List.
Important: Investments in the primary market (auctions) are completely free on FYERS. Charges apply only if you sell bonds before maturity through the exchange, where standard brokerage and DP charges are levied.
Cut-off Timings for RBI Auctions
Orders for G-Secs, T-Bills, and SDLs must be placed within RBI’s designated bidding windows:
| Instrument | Start Date & Time | End Date & Time | Auction Date | Settlement Date |
|---|
| G-Secs | Tuesday (10:00 AM) | Thursday (4:00 PM) | Friday | Monday |
| T-Bills | Monday (10:00 AM) | Tuesday (4:00 PM) | Wednesday | Thursday |
| SDLs | Monday (10:00 AM) | Monday (4:00 PM) | Tuesday | Wednesday |
These timelines may change if RBI or exchanges announce updates. Always confirm via the FYERS Debt Market Portal or RBI auction calendar.
What if...
| Scenario | Resolution |
|---|
| You sell before maturity | Standard FYERS brokerage + DP charges apply. |
| You hold till maturity | No exit charges; redemption is free. |
| You place an order after the cut-off | The bid may be rejected or rolled over to the next auction. |
| You are unsure about this week’s auction timing | Check the FYERS Debt Market portal or RBI auction calendar for updates. |
If you plan to hold till maturity, applying in the primary market is completely free of cost at FYERS. Always place bids well before the cut-off to avoid last-minute rejections.
Last updated: 25 Sep 2025
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